BitcoinWarrior

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Court Fines Two Defendants In $45M Crypto Scam: Financial Crimes Weekly

The Securities and Exchange Commission (SEC) this week won rulings against two defendants in a cryptocurrency scam that allegedly defrauded up to $45 million out of private investors. The U.S. Court for the Northern District of Illinois entered final judgments against Arline Woodbury of Ridgewood, New Jersey, and Joyce Holverson of River Forest, Illinois, for their part in a supposed technology sale purported to be worth billions of dollars. The SEC’s complaint alleged that Woodbury and Holverson raised more than $3 million acting as downstream promoters for a CoinDeal scheme, from which inves…